Official government announcements or reports

U.S. Treasury Recognizes Bitcoin as 'Digital Gold' and 'Store-of-Value' in FY 2024 Report

Dec 9, 2024, 04:30 PM

The U.S. Treasury has officially recognized Bitcoin as 'digital gold' in its Fiscal Year 2024 report. This designation highlights Bitcoin's role as a 'store-of-value,' reflecting a growing acceptance of cryptocurrency within traditional financial frameworks. The report also indicates that the Treasury is exploring blockchain technology for modernizing financial systems, which has generated significant interest among Bitcoin enthusiasts. The acknowledgment of Bitcoin as a form of digital gold marks a pivotal moment in the integration of cryptocurrency into mainstream finance.